it is a bad deal. by the way, everyone agreed to it. >> he likes to throw things out there and throw them around and lehman on the republicans. >> they are trying to make them as painful as possible. stuart: purchased with your subsidies by our antonio marco. >> it takes off. it is an absolutely beautiful car. it is roomy. it is a four-door. stuart: here it comes. we are loading the file. >> i love it. i am glad i bought it. stuart: is it automatic or stick shift? >> it does not have a

transmission. it just has a button. stuart: really? >> yes. stuart: how long is the battery expected to last? not per charge? >> there is a 60-thousand mile. charles: it is a great looking car. are you worried if it breaks down? >> no. i am not worried. if it breaks down, i take it in. stuart: dagen and connell, it is yours. dagen: i was going to say thanks to elon musk who walked off and interview before we got to it. nice car. thank you for that. connell: thank you very much. good morning. i am connell mcshane.

dagen: i am dagen mcdowell. jobs are at stake due to the looming automatic spending cuts. our first guest says this is a giant campaign to justify tax hikes. connell: then we will talk about why some investors are betting their money on president obama when it comes to the cyber security war. dagen: another cold glass to our nation's heartland. connell: the tough decisions that need to be made when a company's brand is engulfed in scandal. dagen: it is the top of the hour. nicole: i am watching a market that really continues to sell off. there are concerns about whether or not the fed will hold the stimulus at any point.

today you have accelerated selling. we are down about 57 points. the dollar remained to the upside. i am seeing most sectors lower. a lot of groups under. back to you. connell: the secretary of defense leon panetta is now warning that the pentagon is planning a partial virgo. dagen: to wait in "wall street journal" board member, jason riley. if you look at, it will only be about 45 billion discretionary mandatory cuts. >> we are talking about 7% in defense, 5% and domestic spending. the sequestration goes through,

you know, the first responders will go away. cities will burn. border control, at this rate, illegal immigrants will raid this country. connell: you think it is basically no big deal. it is a pretty small percentage. >> there are no efficiencies to be found in government? connell: some republicans will say we do not want to cut the fence. we would rather see the cuts come from elsewhere. >> i think they could be handled responsibly. republicans are trying to give the president some discretion on where the cuts are applied. harry reid and other democrats, however, respond to that. i think this can be done responsibly. whether it is domestic spending or defense. what the president does have in his advantage here is

republicans are somewhat divided in this. i think it is important for the republican caucus to stick together on this. dagen: what about that i am a conspirators sometimes, what if the economy continues to chug along at the casting, then it kind of points to the fact that more cuts should have been. you can say i am an idiot. >> i think the administration is concerned because their base does not want to see this. they have political concerns. i do not think they are practical and the terms of the government's ability to move forward and provide services and so forth. they are more worried about the political out, i think.

connell: lower gdp estimates, or is there at least some individual companies that will be affected? >> the spending that obama has wanted, he has gotten. spending has increased. what do we have to show for it? the slowest economic recovery in three generations. dagen: show the white housethe worried, though? there is no way to know how it will react. >> we should all be concerned about what is happening in the federal reserve. i think we should all be concerned. it is pretty frightening what they have been up to. the inflation concerns are very real. how they are going to back out of this, who knows.

connell: people on the other side are worried about them backing out. there you have it. dagen: the consumer price index was flat two months in a row. connell: thank you, jason. another big story that we have been talking about all week. the cyber attacks. the big story about china. the obama administration looking to tighten the belt on nations like china and others. we bring our next guest in. trying to make himself some money on this next trend. you have been on this for a while. this is one of your big picture trends that you pick stocks on? >> we have talked about it for a number of years. i think we are still in the early innings of this. i think steve jobs is to blame for all of this. he pushed this oval cloud much further than the overall infrastructure was ready for.

it is like tearing the wall down. when you tear that down, we are never going to go back to not using these types of things, whether it is android -- this poses a big problem to the people that provide these services and the users. you know, somebody like myself, we use this stuff all the time and we do with very sensitive information. security is very important to us. it is very important that the people that provide the services. connell: on this program yesterday, we showed a few that you like. give us an example of how you, personally, these are joe's stocks that he likes, we will not go through them all individually. all of these are small or for

you're more fair to medium type. >> it is even riskier when you talk about what we do. these are high-growth companies that are dependent on big government contracts. they could be lumpy. we saw some of these negatively react. we think a lot of these companies, these all are companies, will ultimately be acquired. whether it be hardware, software, consumer, government, they will report tonight. they have had lumpy times. we think that the big trend

there is nothing but. i do not think we will get less cyber problems. we will get more. because of that, there is more need for solutions. connell: i was going to ask you about that. maybe the bigger companies, and and buy them. they are all growing at very big numbers. both top and bottom line. that is important. connell: emerald asset management. thank you for coming on, as always. dagen: joe, green for danica patrick. there you go. more controversy surrounding jack lew. the new york post reported he received $1.4 billion in a personal loan from new york university while serving as an executive at the school.

when pressed by the finance committee, he says he does not recall the specific terms of the loan. the former nyu vp says he got a one-time severance payment for the university when he left back in 2006. it is not clear if that payment was clear if he had to repay that loan. the 787 dreamliner. they have been grounded for five weeks. a box containing a fire for the lithium batteries. boeing is missing out on about $200,000 in delivery payment every month that this 787 is on the ground. connell: another issue is the

weather. snow hit a big part of the country all over the midwest. treacherous conditions. very difficult to get around. we will have a live report on this straightahead. dagen: the billionaire founder of paul mitchell and petrone on our minimum wage. should it go to $10 an hour? we asked that question and we have an answer. connell: we will be right back. ♪ all stations come over to mission a for a final go.

this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. we all work remotely so this is a big deal,

our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard. hey do you wanna get a drink later? [ male announcer ] hold packages at any fedex office location.

♪ dagen: that means only one thing. time to make some money with charles payne. connell: the dow down again today. charles looking at buying

individual stocks. charles: i am afraid to mention one. big and seemed a little upset with elon musk. dagen: he is a founder of tesla. i was set to interview him. he was like, i am busy. i cannot wait for this. charles: the stocks are getting hit today. i am kind of surprised. they are actually victims of their own success. the orders have been flooding. ironically, right across in new jersey. they have a little pop-up store. the type of activity, it was absolutely amazing. this is a stock that i would buy.

dagen: the driving test with the car was unnecessary. charles: he is a very combated if guy. also, michael kors. michael kors, yesterday, they sold a lot of stock. three months ago, they thought they would make a dollar 99. this custom is gone. this is a stock under 60. i think you should vote to buy as much as possible. dagen: i love michael kors. connell: let's go back to the exchange. nicole petallides has stocks. nicole: a big hit today. taking a look here at verifone.

it trades right here to my left. it is down 37.75%. nearly 40% to the downside. down $12. this is all because of the delayed orders. they will slash their quarterly profits. there is weakness ahead for the company. they are under some serious pressure today. let's also take a look at mgm. mgm now also on the move. they are selling parts of city vegas center. the stock is down 2.5%. they also came out with their quarterly numbers. dagen: heavy snow continuing to fall in the midwest. kansas and missouri are expected to get hit with at least a foot of snow. connell: we have janice in the weather center. >> they could get 12-18 inches

of snow. maybe even 24 inches of snow when it is all said and done. this storm is just getting its act together. that is ice on the ground, on the roadways, on the trees, on the power lines. that could be really, really dangerous. you see the ice. in some cases, you could see half an inch of ice. that could be extraordinarily dangerous. certainly, power outages will be expected. taking a look at the winter storm advisories, six-12 inches. eighteen-24 inches and now bull's-eye. the significant icing across portions of arkansas where we have our ice storm warning. the potential for severe weather

including tornadoes across the gulf coast. all parts of the same sort system. back to you. connell: thank you. dagen: thank you, janice. up in arms about spending cuts. the president is pushing ahead with a $50 billion plan to spend money on infrastructure. connell: questioning the french work ethic. dagen: french work ethic question mark oxymoron. connell: let's check in on some currencies. there euro is down. we will be right back. much more on market now. ♪ friday night, buddy.

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dagen: we have a news alert for you. existing home sales edging up slightly in january. add pistil of the american enterprise institute is here. sales are up, supplies are

tight. what is not to get excited about? >> not to confused. they guarantee any% of all credit. half of all the borrowers that get mortgages. the interest rate is at the lowest level in 100 years. the fed is the largest buyer of mortgage debt. that is not a normal market. yes, there is recovery, but do not confuse it with regular recovery. dagen: why wouldn't you want to buy a house? you take out a fixed rate mortgage with very little money down that will inflate because of what the fed is doing. that sounds like a winning situation. >> it sounds like a winning

situation, but what happens when the interest rates him inevitably have to go up. the other problem is, what the fed is doing is really encouraging and lot of capital investment in real estate. it is kind of the wrong capital. it is not going in for long-term fundamental investment and credit advancement and things like that. it is going in for buy to rent. that capital is short-term horizon. it is looking for getting out in three to four years. this market runs into a problem with a recession or higher interest rates, that capital will flee and all of a sudden these areas that are getting too used on the upside will have a big vacuum on the downside. it is amazing.

today, we are still running at about 40% of all the purchases. that is as high as it was in 2005. dagen: what are you suggesting that this boot is fleeting and you are a real serious buyer, do you think people should wait another three-five years? >> what you look at is, what does it cost to rent and then you try to take out a shorter-term mortgage and try to accumulate some equity through shorter-term amortize nation. then you are covered. you pay down your mortgage. dagen: good to see you. thank you, sir. ed pentel. connell: we will talk about the president cash concerns. how does another $50 billion in spending sound to you?

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connell: sequestration aside, the president has other sets aside. it will cost all of us. higher gas prices and then when scandal angles a prominent

print. we will talk about nike's decision today to cut its contract with oscar pistorious. they have a lot of big athletes. dagen: nicole petallides watching home depot. nicole: home depot shares are down. let's take a look at the stock right here. we are seeing it down to the downside. cutting lowe's also. it is their spring selling season. both companies and not think they were going to do some major

hiring. dagen: president obama calling on spending $50 million. we have grover norquist with us. tell me how you would articulate your argument against it. >> taking $20 from one person, running it through the government and handing it to someone else. you take the resources for one job out of the economy through taxes or debt. then you move it to the other side of the economy and you hold a press conference while you release the same dollars. you are just moving money

around. if you take a bucket of water outside of the lake and then walk it around to the other side, obama thinks you are extending it to great depths. that does not work. connell: we are going through a bunch of companies on the bottom of the screen as you are talking. the theory would be, if there was more spending enacted, that some of these individual companies would benefit. we have heard that before. are you basically telling me that most of these things are just dead on arrival. speaker boehner is essentially right? it will just not happen. it will not make it through this congress. >> president obama and the democrats in the senate gave us additional debt. the days of more solyndra is

over. there is no more of that. the president can promise all the money he wants, he will not get tax increases out of the american people to spend on chicago and solyndra. not happening. he knows that. anyone running a campaign contribution is making a bad investment. connell: how do you feel, personally, about how the last few months have gone? the whole narrative was, oh, boy, is grover norquist now a relevant to taxes and all of that. now, here we are. you could argue higher taxes as part of that deal that went through. pretty much, at this point, you could then up and say it is over. >> we want as much as you could last time. we will win this time. what happened on january 1 of

this year was taxes went up $500 billion because the 01, oh three and the amt patch all lapsed automatically. 85% of the money that obama could have taken stayed with the american people. he got 15%, we got 85. now those tax rates are permanent. we move forward to the fights over the budget and spending. i think the american people will win this next one on spending and the president will lose. connell: grover norquist, thanks a lot. we will check back. >> certainly. dagen: the man behind paul mitchell and patrolled tequila. up next to talk about the

minimum wage in this country. should it be $10 an hour? connell: telling the french government it would be crazy to set up shop in that country. we will have that next. dagen: scandal creating an advertising dilemma. suspending the contract with one of its athletes. you can see oscar pistorious there. take a look at treasury markets. we keep talking about the federal reserve. the bond line, you do not have a reaction in the treasury market. at least not today. ♪

>> i am adam shapiro with your fox business brief. jobless claims rose more than expected last week. the four-week moving average hit its highest level in six weeks. writing a no holds letter to a french oprah show. he wrote the letter why his company would not be buying it. the french get paid high wages for only working a few hours.

gerri willis will have more when she interviews therese taylor at 6:00 p.m. eastern. how are you wasting your time at work? more than 30% spend a lot of their day on e-mail. that is the latest on the fox business network. ♪ ine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. a talking car. but i'll tell you what impresses me. a talking train.

this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ connell: before dagen talks about the minimum wage, which actually should be a pretty good conversation. dagen: i am excited. now you set the bar too high. connell: never. imagine a world where we would all just be walking around with these. i am talking about google glasses. who will now accepting applications to choose small groups to buy early versions.

you can read e-mail, get directions, even take picture or video. i nominate i to check these out. the cost is $1500. you would be able to check out everything. there is google, by the way. it is up 352 a share. dagen: current minimum wage is $7.25 an hour. john paul dejoria is here and he is the cofounder of paul mitchell systems. he is joining us now from austin, texas. ten dollars an hour. you say yes to that. >> yes. let me explain how. people are talking about increasing wages.

for the employer, many employers, they are saying i am raising my payroll 25%. same productivity. i cannot afford it. a lot of people are thinking that way. how do you increase productivity and be able to pay people more money? that is the secret. if somebody is hired, for example, $7.25, whatever they are hard for, you work with them. in three to four months, it is the ramp-up period of time. we will learn the job and how to create sub productivity of what we are doing. our business can have at least 25% more income because we are increasing productivity. if we do end up to 30%, how about $10 an hour.

human beings are capable of doing a heck of a lot more. dagen: you are talking about a decision made by the business owner and operator. a private decision. not one mandated by the government. if the government did move it up , if you have that kind of, you know, stairstep move in that direction, that would hurt job creation, would it not? >> it definitely would. i pay 50% or the not. our minimum wage is around $15. i have spoken to some people who have said to be, we are going to stop hiring youth part-time jobs because we really cannot afford it. it will affect us 25% more. that is a big deal. if the government can work with

business and figure out a plan to increase product committee, then it will not be an issue. right now, unfortunately, it will be an issue. i would like to see more people working, but increased productivity in the united states by doing that. my executive assistant was just hired. she had a three month ramp up period of time. if it did not work out for her, hey, thank you very much. you got a good recommendation. if it did not work out for us, we appreciate it anyway. if it did work out, you get a raise. there has to be some balance. the productivity must go along with it. not just a wage increase. dagen: just really quickly, we have talked a lot this week about danica patrick.

i wanted to give your daughter a shout out. she drag races, right? >> that is incredible. her best speed i think was 4.04 seconds. the hundred 19 miles an hour. three years ago she broke a record. we are so proud of her. she is racing in phoenix, arizona. dagen: i just wanted to say that. thank you, john paul. connell: he is a good interview all the time. this is plants all around the country that are facing repairs and conversion projects. threatening to push already soaring gas prices even higher. dagen: jeff flock has more from indiana. jeff: the bp refinery here in

whiting. it is a perfect storm. take a look at the map around the country. pep is just one of him here. the refinery down in port @rthur, texas, they have had a lot of problems. it has really pushed up the price of gasoline. as the report, threatens to do so even more. take a look at rbob today. down another six cents. it is not showing p at the pumps yet. the aaa fuel gauge report, up another penny. 3.77 is the average today. 3.62 a week ago. i want to show you what it is a

good time to be a refiner. despite these shutdowns. analysts say when they report earnings next time, they will be up more than 100% because their margins have improved. less gasoline out there. less refining capability means that they can charge more for it. they are doing okay. dagen: jeff, thank you so much. you do not look quite as cold as you normally do. jeff flock. connell: let go back to nicole at the new york stock exchange. nicole: i wanted to take a look at the movers here. sony. now we are hearing more about the holiday season. here it is. it is down 2.6% at the moment. that will compete directly with the new xbox from microsoft. that is due to be released this summer. safeway, up 15%.

verifone, which we had earlier, you talk about credit card swipe machines. there it is down 38%. we continue to follow apple and david einhorn and his fight with apple. just look at this stock at $445. it certainly has had quite a variety. apple shareholders -- many people own apple. back to you. connell: the oscar pistorius decision for nike. dagen: take a look at some of the companies who have faced similar dilemmas over the last year. ♪ all stations come over to mission a for a final go.

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dagen: nike the latest sponsor to give oscar pistorious the boot. connell: they kicked him out today. this is a week after the company held an ad about the south african sprinter. it literally said caught a bullet in the chamber. >> it has been less than a week since oscar pistorius was charged with murdering his girlfriend. nike announced yesterday that it is suspending its contract with him after oakley did the same thing earlier in the week.

pistorius denies these charges. nike, itself, issued a statement that if he should be afforded due process. brands do not have the luxury to wait around for a court verdict. one ad executive told me this morning he usually advises clients to walk away from any endorser whose personal life overwhelms. consumers -- it is not so clear-cut. look at nike. it dropped lance armstrong, but stood by tiger woods. it is not always as easy as, get out of the way. the key is that the brand has to focus on not taking perfection, but being truthful and human.

it will be interesting to see how the rest of the sponsors handle this. if they do all dropped him, it could cost him somewhere around $2 million a year. connell: that is a much different case. that is the way it was for tiger woods at first. all right. thank you. dagen: judge andrew napolitano is fox's judicial analyst. do they have any recourse in these instances? >> they are only legal recourse is to terminate the relationship. i have not seen his contract with nike. i have seen a standard contract. if you do something in your personal life, or if something happens to you, we can terminate the contract.

we can get rid of you if you are going to harm us more than you will help us. diane used the appropriate phrase. when your personal story overwhelms the message of the attempt to sell our product, you are no longer of value to us. connell: if you have a really huge athlete or whoever it is, and they are represented by a company like nike and they do something that tarnishes the brand, there is no way for the company to go back and say we are out of this contract and we are going to sue you for hurting us. >> this is almost inconceivable. the spokesperson did something to harm himself to harm the brand. there is no negligence brand course of action.

dagen: there were rumors that lance armstrong was dope since his first tour de france. he could turn around and sue them. >> yes and no. it would depend on mr. armstrong's contract with nike. there is some language in there to protect the spokesperson. there is a lot of opportunities for the seller to jump through a loophole, if you will, to get rid of the spokesperson if they do not like that person anymore. they can always keep paying. it would be almost inconceivable that somebody who was a spokesperson fired could sue or that the company could sue the spokesperson. a lot of people, including the federal government, invested

money in him based on his now false statements. connell: judge, thank you. as always. john corzine. his fate in the financial industry could be decided by regulators and could be decided in the next hour. dagen: cheryl and dennis will have that coming up. ♪

dennis: i am dennis kneale. cheryl: i am cheryl casone at stocks continuing the biggest fall since november. we have a guest that says buy gold stocks on the tip. dennis: this could be the hour jon corzine is banned from commodities for the rest of his

life. cheryl: get ready, northeasterners. a major blizzard making its way to the east, we will look at the stocks taking a hit and we will help you profit from all of this. dennis: top of the hour, stocks every 15 minutes, nicole petallides at the new york stock exchange. nicole: let's take a look at the market, all of those bulls hoping to take out those numbers. they think the pullback was long-awaited. here it is, tough news on manufacturing over in europe. a weak euro, a strong dollar, there is the dollar down half of 1% right now. financials under pressure. bank of america for example would be a good sample of some of the financials. followed 10 sectors, nine of the 10 have been lower.

industrials as well, the only thing halting on our consumer staples and that is a big defensive play. of course the jobless claims rising. back to you. cheryl: thank you very much. gold trying to stage a comeback after a six-month low ahead of the fed release. point the wealth management strategist joins me now. i want to start off because a lot of the stocks have had year-over-year declines on a percentage basis but really getting hit down 35% over the last year. >> here is the deal. basic goldbach 20% since 18 months ago. gold stocks themselves have been devastated so the question is where is the cheapest way to prospect?

i think a gold mining stock looks very, very good. if you look at what they have and the market cap of the company, trading at 60% of the market cap after extraction cost. they're very innovative. tied to dividend already. 2.5%, most double what you get in the treasury. cheryl: good to see that chart. this is a fun, a way to play the gold, company side of gold. speak what looks good for two sides. there could be a flood, clinical appropriations, company specifics. of course, what is the cheapest

way to buy it back? trading at about a 10% discount to the value of the holdings. it is very much out of favor. why not. cheryl: hitting a new annual low today. we should mention, but will not say this negative, buy low, sell high. hitting a new low today, actually an all-time low. i want to go do something else, this is a side effect or maybe the cause, that is the fed. keeping interest rates incredibly low. you can see the pressure on the dollar. we are not seen that translate into the gold contract, if anything we're going opposite the last 48 hours. kind of seeing a true change in how gold, the fed and the dollar all correlate. >> a lot of questions there.

but certainly there was a selloff in the market because they felt there was some sort of a change in the bond buying promise the fed has announced but the reality is i think it is loaded, they will keep going until we see 6.5% unemployment or 2.5% inflation without anywhere close on either of those. worldwide they are printing money and continue to print money, japan is the latest. at the end of the day gold has been historical hedge on inflation. gold is going up. cheryl: my faith in ben bernanke, maybe i'm backing off of that, but having faith maybe all of the panic is out of the market in europe or this country, that is why you are seeing what you are. >> absolutely. creating more money printing, ultimately inflation, buying

gold at a very low price right now relatively eas to where we e gold going. cheryl: we kind of needed right now. great to see you, as always. great, david. dennis: and yet another dire holding on sequester. warning of possible layoffs of meat inspectors. the clock ticking down. cheryl: we have rich edson joining us from inside the beltway. why is it the obama administration is focusing on this one aspect of sequester, which is such a massive undertaking, why are they honing down this particular point? rich: agreeing to cut deductions and wealthier taxpayers to avoid these across-the-board spending cuts. their warning of cuts in health care education, research and food safety inspections. some in the food industry say agriculture secretary chose to cut inspectors to make a political point.

in his statement, secretary ville site is using american cattlemen and women as pawns in the wrangling. while we're certain the usda contains other nonessential employees, the secretary has chosen to announce the consequences of sequestration in terms of a furlough of food safety inspectors essentially threatening to close down all production processing and interstate distribution of beef. the administration disagrees saying the law enacts these cuts requires a set reduction in spending of each government account. he says that this fortunately affects the sectors. cheryl: these are provided by law possibilit flex ability to l give you the right to move money around that you currently don't have by the way the sequester was crafted. or end the need for sequester by dealing with the underlining

deficits. rich: congress is out all week. he'll return next week to indicate they are nearing a compromise to avert these. cheryl: are you worried this will be a broader push by the administration and key parts of the sequester broadcasted out, the president talking about it in front of a podium so they're pushing republicans to finally increase taxes, which republicans obviously don't want to do. john boehner saying i cannot work with this administration. rich: absolutely. would she have gotten his ways this could affect lives of americans. this is what this sequestration or on exiting cuts means to you. it comes march 1, let's say. april 1 into this summer and the effects aren't as dire as people predict they will be, you get a sense government spending cuts are actually not that bad. so this is a time right now or you want to warn the most dire

circumstances coming in the future to get away and have congress act the way you want. cheryl: rich edson, thank you so much. dennis: breaking news, the bigger they are, the harder they fall. trying to ban jon corzine from trading for the rest of his life. cheryl: the bottom line with liz macdonald following this story. liz: it is self revelatory body, here is what is behind the push by two board members to ban jon corzine for life. they're worried he will be running money from including offshore. the board member saying 16 months after mf global class costing investors $1.6 billion, we still have enough but soup of

agencies who have not enforce anything against corzine. this is unprecedented of 160 years of commodity trading. there has to be consequences. two new board members run money, the client have lost money. we contacted the fcc, they have declined comment. look at what official tells fox business. we are closely watching the board meeting which is now underway. a developing story. i don't see it overturning a decision on the ban on jon corzine for life. they say look, we have majority support to ban jon corzine and the likes. dennis: so we figure we will just ban him for life.

jon corzine was stupid, reckless spending hundreds of millions of clients money disappeared, but he was not criminal, right? liz: that is correct, only congressional probe that found he was lax in his internal controls at mf global, that is all. there continues to be repertory probes, but they say essentially to fox business that they have slept thousands of members with lifetime bans since 2008 and so they say they want this to be an impediment to him if he tries to go to the cayman islands to get money, they want him to have to disclose regulators and future investors he does have this so-called problem with sanctions. dennis: that might be a great obstacle to him raising money to anyone ever again. cheryl: thank you. liz: we will be breaking news on this throughout the day.

cheryl: thank you very much. snow, and plenty of that heading for the planes, the east coast. how does hitting the airline sector and many other businesses coming up. dennis: advertising, canary in the coal mine. join exclusively, the ceo of the world's largest apple holding. cheryl: chief economist joining us talking about where we're at in the housing recovery. dennis: and take a look at oil. friday night, buddy.

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depssion or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop taking chantix

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he could be their recent victim in a string of attacks include burger king, jeep and george bush. we'll have to check our account after this. dennis: like anybody would care enough to break into my account. 15 past the hour. stocks every 15 minutes, team coverage. cheryl: phil flynn watching oil. charles payne with how to make money on dollar tree, but first nicole on the floor of the new york stock exchange. nicole: thanks, cheryl. we see industrial health care information technology under some pressure, or jobless claims numbers in the first time in three weeks. moving forward, just trying to work around some of the people who work here. we are seeing the fed's number weighing on the market, worries about whether or not after we saw those, whether or not the fed will actually pull out the

stimulus, the kool-aid we have been seeing. it has inflated these markets pushing them near the all-time highs. after yesterday, you are seeing names like bank of america, caterpillar under pressure. down 69 points right now, phil flynn, what do you see in chicago? phil: we are seeing even more pressure after the energy information administration reports, larger than expected crude build up. we also saw heating oil concerned to get crushed. the numbers came in a little bit bullish but the market continued to go down that much for gasoline, under a lot of pressure because of a big drop in crude oil, but we saw a rebound after the draw down in gasoline.

the big reason we saw the drop in gasoline supplies was a surprise drop in imports. if you're looking across the oil complex, you hav, have a look a rebound in the dollar. so, back to you, cheryl and dennis. you can buy more gas. cheryl: unless the prices keep going higher. it is time to make money with charles payne. this hour he's looking at discount stores. dollar tree. do you like dollar tree? charles: i like dollar tree. here is the thing. dollar tree, the great recession raises the company. january 2008 was $28, 42, 50, 51, leicester start of the year $84.50. it is a great space, lots of competition, more stars and also

a lot of pressure on a same-store sales. bb for that, 7.3%, the november quarter that is why wall street hit the stock. cheryl: they are asking that question, are they not spending or are they going shopping? charles: it was amazing, had not been there for years. felt like people were ahead of the new year with everything else, so w as we will see how ty adjust. if i'm going to go shopping under dollar tree. dennis: are worried about the low-end retailers, so should i wait a couple of weeks for this to go down little bit more? >> love the action in a lovely volume.

you can get really cute but by the same token i think people are saving money but you have to go shopping in this environment i wouldn't be surprised. it is about expectations. the stock was high for a long time. 50% in a year. dennis: thank you very much, charles payne. in a tough decision if we made the company's brand is in a scandal. exclusive interview ahead with the world's biggest at holder company. cheryl: and a fish story. why you may not be getting the seafood you paid for coming up in the west oast minutes. dennis: how the currencies are faring against the u.s. dollar.

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>> hi, everybody. this is your fox news minutes. in syria, car bombing killed 53 and injured more than 200 in damascus. it is the third day of urban

attacks since rebels tried to move from their stronghold in the suburbs in the syrian capital. south african police have replaced the lead investigator in the oscar pistorius murder case. the detective is now facing attempted murder charges himself. a 2011 shooting that wounded seven. he is a double amputee lesbian accused of killing his girlfriend. and a gun battle like never seen before on the las vegas strip leaving three dead and three injured. around 4:30 this morning and suv exchanging gunfire with a maserati and then the maserati crashed into a taxi. both drivers and passengers were killed. those are your headlines right now. back to cheryl. cheryl: thank you very much. the central part of the country waking up to over 1 foot of snow and a storm gathers strength and

moves east. winter storm warnings and advisories issued for more than 1600 miles from new mexico and arizona, virginia, university of nebraska has moved a big 10 basketball game from thursday to sunday. in the world golf championships match in arizona suspended because of snow. let's take a look at who will feel the impact from the winter storwinterstorm as far as busin. the airline sector, all of these stocks are down today. take a look at utilities, still can'trying to recover from super storm sandy. those are all down. and natural gas, and other big story going through another big storm, the two-day chart with natural gas down almost flat. dennis: i hate this story and i hate this winter.

rick. >> you and i are both from arizona, it snows in arizona's, just in the mountains, not the desert. a foot across kansas, eight and a half is the high in nebraska and cambridge, but we are not done. everything i'm about to say, think about it with this in mind. this dark color in extreme drought, the highest level of drought and they have been suffering for a year. we will have another really rough time with crops this coming season. it is really beneficial. in the short-term difficult for traveling and on the road but we are getting it exactly where we need the snow. the real problem is going to be down here to the south with freezing so parts of southern missouri around st. louis, there will be icing and significant power outages and impossible

conditions on the road. the worst of it, where you're getting the snow they desperately need it and they are happy to get it. dennis: what about our needs in new york. cheryl: thank you. it is not southern arizona. crazy. they are called google glasses and they display the internet in your line of sight. he can be the first in our block to have them if you want them coming up. dennis: advertising, canary in the coal mine for business spending. a fox business exclusive. cheryl: has to go to break, look at the winners on the s&p. dollar general, a friend of dollar tree charles payne was just talking about. we will be right back. ♪

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cheryl: bottom of the hour, stocks every 15 minutes, nicole petallides on the floor of the new york stock exchange with news crossing today. nicole: some big news on ford, we're talking about new jobs from the united states of america, particularly in cleveland on a daily look at ford's stock. there is a look at the stock for you. ford says they will invest in $200 million in their cleveland plant. the late leader version of the turbocharged engine in the north american lineup. now they're currently building that over in valencia, spain. they plan to bring over to the states in 2014, adding about 450 jobs in the cleveland area in

that particular factory, so some news from ford and american workers. back to you. dennis: existing home sales off this morning inching up a bit in january, inventory of unsold homes at the lowest level in 13 years. tight inventory just a problem of its own for the spring selling season. more now from the chief economist, thank you for being with us. up january over december. this is good news? >> relatively small number but the better news is we have a big shift from or closer sales and short sales to conventional sales. dennis: even conventional sales are investors rather than home buyers.

with strong job growth from a lot of the best activity. dennis: you say even after all the signs of recovery, even after the stocks have doubled, you said we were only 52% toward a housing recovery. where do you get 52%? >> housing, sales and development see in foreclosure. at the long-term normal, we're about halfway back. dennis: how long does it take to get the other half? housing started this long cycle. that has been five or six years almost five years, how can you get back in the second half of recovery? >> it has taken three years to climb halfway back up. fewer foreclosure inventory, fewer red flags, two or three years to a sustainable goal.

dennis: and tell me why it is i was hearing for a couple of years the inventory of homes up for sale with too many homes, too many foreclosures and now people are complaining about tight inventory. >> inventory is tight for a lot of reasons. very little construction, smith added a few new homes and a lot of people have been underwater. no one wants to sell if they think prices might rise more. sellers that wants to sell anywhere near the bottom. waiting for prices to rise more. dennis: a big problem for recovery is sellers were unwilling to lower their prices enough to get the house is sold. cheryl: now they are getting impatient, they think prices will rise, they can wait to sell, they will. dennis: the biggest lesson we

learned in the housing meltdown is you ought to buy a home you can afford and that you want to live in, should not be buying a home because he wants to make a return. >> we know home values go up and down, there are risks. if they will stay put for a long time. dennis: those are good points of advice. good day, sir. cheryl: always interesting. imagine a world in which we all will be walking around with these. google glasses. now accepting applications to choose a small group of people to buy early versions of these classes. for example, you can read your e-mails, get directions and take video. the cost is not cheap. $1500.

$7.93, but you've already made a good point about these classes. you just said they would be driving. dennis: the cofounder of google goes to public events and has them on the whole time because he wants people to say why are you wearing those glasses? they get so distracted by what is going on. cheryl: they will be outlined wearing google glasses. dennis: i don't think it will catch on enough to have to do that. advertising, canary in a coal mine. joining me exclusively, sir martin sorrell. cheryl: and i this has been nothing but bad news for boeing as of late, but they have a plan to get the dreamliner flying again. i look at the stock's performance coming up. dennis: and first, a look at the

10-year treasury. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take twatch your money?

if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. diane: hi, everyone, i am diane macedo with your fox business brief. mixed reports on the u.s. economy. we're seeing the dow down 80

points. meanwhile, the average debt in households headed by people 35 and younger fell 29% from 2007 through 2010. they arthey're taking one less t card debt and are putting their home buying plans on hold. much of the drop could be connected to a decrease in homeownership since the account is three quarters of the average american debt. in one exports grew for a third straight year setting a record $1.4 billion in revenue. according to the wine institute, 90% of exports are for california. the european union remains a top market accounting for 34% of all sales. that is the latest from the fox business network, giving you the power to prosper.

cheryl: on the road and perhaps facing delays, tell industry is

facing for serious disruptions that could come from the automatic spending cuts take effect march 1. all agencies across the board reducing staff and air traffic and late security. industry experts said the lack of that will lead to longer lines at security checkpoints. transportation secretary ray lahood says the vast majority 47,000 workers will be for load one day for every two week pay period happening through september with a maximum of two days for every two weeks. this situation will be different from previous government shutdown in '95 spared from all of this. airlines could take a hit, travel experts saying rising delays could cause business travelers in the coming months to postpone any flight plans. it is time to use more skype. dennis: all right, and boeing

shares are in the green has very to plan to get the ground in 787 dreamliner back in the air. cheryl: are you excited? adam: i am. here's the deal, this is important news because boeing even on a day the futures dropped, they closed up yesterday because they have a plan, still haven't answered the key question what caused the fire on the plane in boston and in japan. but they have a solution they're going to present to the faa tomorrow and partially what it says, read on the battery so that they have a greater space in between them so if they heat up, they don't catch fire. the potential to put a ceramic barrier to build a new box to contain the batteries of a fire occurred, it is contained in to vent the smoke outside so

doesn'itdoesn't go into the pasr department. you could have 787 back in the air come april. the problem is they have 200 million per month in delivery. that is not what they are getting. making them, the key, the haven't figured out yet was caused by. dennis: this new battery, why don't they go with the old, heavier battery? why wouldn't it be such a huge deal. >> there are literally several batteries that way a lot. if you put in the old-fashioned nickel cadmium battery, they way a lot more. everything subtracts from the profits of operating aircraft. the reason they use the lightweight battery was they cut 30% of the weight from the aircraft instead of traditional

metal. cheryl: also the lighting controls. it has never been done revolutionary, that is part of the reason the system was able to be installed. adam: my best way to describe the savings is the ups-fedex model. ups designed the containers as carrier packages to use a lighter material and they made them smaller, they can get one more container on the errors then fedex equipped $270,000 per year more per year in profit per aircraft. cheryl: who would like to get one of those batteries on this set to analyze, as long as it doesn't catch fire, think we should get one. >adam: you have one on right nof you have a cell phone, but you

carry them in a much more dangerous location. cheryl: thank you, adam. dennis: stocks every 15 minutes, nicole petallides at the new york stock exchange looking at another down day. nicole: just a little bit lower. down over half of 1%. the worst of the three indices we follow so closely, down over a full percentage point today on a day that we look at a name like apple, apple selling off, so some of the tech names coming under the pressure. with concerns about manufacturing over in europe and on the heels of weaker gdp. we saw triple digit losses on the dow. here we are down 77 right now, so majority of the dow components are in the red led by intel, home depot, we should note there are winners on the dow.

clearly outpacing volume today. dennis: thank you, nicole. cheryl: this time for your west coast minute. the numbers are in from the mortgage settlement in california coming up big winner. golden state should receive 20 points of a billion dollars. it should go to help about 175,000 california residents who are still facing foreclosure. chip designer nvidea building a campus across the current building will increase expansion of the partnerships. there is the stock for you down $0.05 on the ne a new building d like a triangle. if a mental building block of computer graphics. and attention west coast sushi lovers. in the report says 20% of

portland seafood is mislabeled. two-thirds of seafood bought in the portland area was fraudulently labeled. they released the report and says it is proof consumers are being ripped off. that is your "west coast minute." dennis: he runs the world's largest advertising holding company. sir martin sorrell of wpp group exclusively on fox business with what he calls the four kreis ones facing the economy. cheryl: as we go to break, different names. we will be back. [ male announcer ] you are a business pro.

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dennis: and now, a special media advertising is the canary in the coal mine or business spending turning down before business does. joining us now, we have the ceo of wpp group, world's largest ad holding company, sir martin sorrell. thank you for being with us. dennis: you have four gray swans that can break either way. let's stick with your four gray swans. the u.s. deficit showdown. consumers barely even know about it. >> they are starting to care today. it is still, 1159 on december 31

of last year. we just keep on kicking the can down the road. whichever way is a feasible way. it hasn't gone away. many have given up waiting for washington. you cannot prepare for 2013 like we have just done. waiting for washington to get it all set. dennis: the meltdown. off the table. >> it is not completely done yet. having done some interesting restructuring stuff in spain, little political problems and corruption issues, it i does not totally off the table. dennis: there is this big

international incident for the u.s. maker said the french. he is right about doing business in france, isn't the? >> it is in spain and to a lesser extent in germany. the cost of restructuring. it was a serious film. in the u.s. you can turn on the restructuring. the great thing about the labor market is it is extremely flexible, highly competitive. france, italy, spain. the friction cost, the cost of restructuring. whether they complained it in the right way. dennis: china slowdown. >> very strong december, very strong january.

the chinese are rampant. dennis: and a mideast blowup, is it really that bad? >> it has gotten tougher. dennis: now a vastly more important story, oscar pistorius accused of murdering his girlfriend shooting through the bathroom door. nike just dropped him. >> allegedly. nike has done the right thing. they pulled back and allow the judicial process to play out. but it really depends on what happens. i know we're on this 24/7 media channel. we better wait and see what happens. dennis: thank you very much for

being with us. cheryl: who wants to be a billionaire? you're looking to join the elite group, harvard education is your best bet if you can get in, right? ivy league university has winners in a population. almost double that of the university of pennsylvania. 28 billionaires only $112 billion. colombia rounding out the top spot. there you go, wanted to make the list. play the game. up in arms about spending cuts, the president is pushing ahead with a $50 billion spending plan on infrastructure. lou dobbs will weigh in on that. dennis: stocks and commodities

continue to sink. next read